When CNBC Africa approached Atlas Mara for comment co-founder Thakkar said the company “has made clear that it is aiming to build the pre-eminent financial institution in sub-Saharan Africa and intends to achieve this though both organic growth and acquisition. As a result, Atlas Mara is often approached by vendors of assets and it is our policy not to comment on specific situations”.

Barclays has had a presence in Africa since 1925. Barclays Africa was created three years ago under a deal in which the British bank handed over ownership of its businesses in eight African countries to its South African subsidiary in exchange for a 62.3 percent stake in the new entity.

The company makes most of its profit and revenue in South Africa and also operates in Kenya, Botswana, Ghana, Zambia, Mauritius, Mozambique, Seychelles, Uganda and Tanzania.